Chinese brand values set to rival Amazon, Apple

Amazon and Apple are still the world's most valuable brands.

That's according to a global ranking by Kantar.

Amazon held the top spot with an estimated worth of $684 billion.

Followed by Apple at $612 billion, and Google at $458 billion.

Nathalie Burdet is Chief Marketing Officer at Kantar.

"So first of all, an incredible growth - 42% and the total value of the top 100 equals $7.1 trillion. To put this into context, it's like the equivalent of the combined GDP of France and Germany."

U.S. names still hold the top positions, and nearly three quarter of the top 100 names.

But Chinese brands are rapidly climbing the ranks, and beat the top European names.

China's biggest social media and video games company, Tencent, was the country's top brand.

It was in fifth place on Kantar's list, while Alibaba was in seventh.

"Another key highlight is Chinese brands, Chinese brands that are really consolidating their ranking this year and are fast growing. Key example: as part of the top 10, you've got Alibaba and Tencent, and number 11, Moutai, which is a luxury alcohol Chinese brand, but the fastest growing alcohol brand."

Tesla was the fastest growing brand and became the most valuable among auto firms.

The electric pioneer's value increased by 275% year-on-year to over $42 billion.

The top European brand was France's Louis Vuitton in 21st place, followed by Germany's SAP software group in 26th place.

The only British brand to make the list was Vodafone in 60th place.